Try going back to 2003 and all of the lobbyists ( reportedly 1,000 ) from Big Pharma on Capital Hill that helped Louisiana GOP House Representative Billy Tauzin spearhead the "Medicare Prescription Drug Modernization Act" which Bush supported and signed into Law, the biggest single entitlement program in decades... at a cost of $727 BILLION over 9 years and no increase in taxes to help pay for the subsidy, let alone concessions given to the drug companies that did not allow for the Government to have any volume discount pricing power. The same day that Tauzin left Congress in January of 2005, he began working as the head of the Pharmaceutical Research and Manufactures of America at a reported $2.5 million per year. Shocker.
You have absolutely NO idea what you are talking about. Health care legislation was written off for DEAD back in December when former DNC Chairman and Doctor, Howard Dean came on MSNBC and abandoned ship, telling everyone that the health care bill should be killed - - - and yet Pelosi was still able to round up her party and outmaneuver the GOP. That took quite an effort, and she got it done. Whether you like her, or dislike her, she left the GOP curled up in the fetal position with egg all over their face. They got HAMMERED. That's a FACT. And yet you claim that there was "no amazing political finesse" involved??? Thanks for showing everyone here how much of a total MORON you are. Congrats!
We need good legislation, not just any. I have no confidence finance regulation will be any better than the health care bill. We badly need health care reform, instead we got another handout to the health care industry. I suppose the financial regulation bill will be more of the same. Just another mechanism for funneling tax dollars to favored, private, for profit corporations and banks.
I agree with that. Closet Bolshevik. (But I digress) The option market as we know it today has been around since 1975 and had little to do with what is under consideration for what is being touted as reform.
I think that would clean up a lot of the existing problems in the banks -- as well as make the pricing itself much more efficient. In my opinion, if anything is securitized and sold to third parties, there should be a real best bid/offer on it, and brokers should route customer orders through an open/competitive exchange rather than "internalize" them (trade them against the broker's own account).
Never under estimate the Democrats, they are the party that actually care about a child and the childs grandparents. That is a hard act to follow as we watch the Republicans wallow in their own pile of dung kicking, screaming and crying about LESS regulations and less rules for big business so they can run around willy-nilly with unfettered corporations screwing everybody for their greedy selfs. If it was not for the mantra of tax cuts...........the Republican party would lose 1/2 of their followers. Take away the right to hide a HANDgun in their ass to shoot your neighbor or family they would lose another 1/4 of beatoffs that need to be told what to do in their life. The NRA means.........NATIONAL RIFLE ASSOC. They really should rename it The National Handgun Assoc. Hunters use rifles to shoot beautiful creatures called animals, A handgun has a single use.............that is to kill another person. We need to STOP the madness of guns in America. OK, no more soapbox. DONE :eek:
I completely agree. They should also eliminate flash quotes, dark pools, co-location, payment for order flow, and liquidity rebates... Except for flash quotes and a cursury glance at dark pools, none of this will happen though. The congress people have probably never heard of payment for order flow. The only reason flash quotes ever hit the radar of congress is because some very powerful institutions, like NYSE, were starting to lose market share to the newer, more technically advanced exchanges. If the special interest people don't make it known to congress, congress definitely doesn't know about it.